With a lot of excitement among consumers about the new Xiaomi flagship, leaked rumours suggest massively improved specs for the upcoming Mi 5 smartphone.

Xiaomi is stepping up its game in the flagship race to compete against bigger rivals such as Samsung and Apple. After launching Mi 4i in India with an attractive price point, the Chinese tech giant is aiming for the high-end market for its next flagship. Although unofficial, the rumoured Mi 5 is going to be an interesting entry in the flagship smartphone category provided the leaked specifications come to fruition.

There have been several rumours and leaked images of the Mi 5 smartphone in the past and more details keep slipping out of the cracks. As per the latest rumours, the Mi 5 is expected to feature a 5.2-inch Quad HD display with 1,440x2,560 pixels, which is found on Samsung Galaxy S6 and LG G4. The handset is said to run on Qualcomm's latest Snapdragon 810 SoC coupled with whopping 4GB RAM, Phone Arena reports. If that happens, Xiaomi Mi 5 will be the second handset after Asus Zenfone 2 to have the highest RAM capacity.

Previously, rumours also suggested that Xiaomi is planning to add fingerprint scanning technology into the Mi 5 smartphone. The news came from Xiaomi's patent filing at China's State Intellectual Property Office, which adds more weight to the rumour.

Other rumoured specs about the Mi 5 smartphone in the pipeline include a 16mp rear-facing camera with Optical Image Stabilisation, 8mp front snapper and a 3,000mAh battery. There is no information whether the handset will feature a microSD card slot, but it is said to come with 16GB and 64GB storage options.

Even though the rumoured specs spike some interest among Xiaomi fans, it is important the company hits the right price point. Consumers expect a competitively low price from Mi phones as Xiaomi has built its image with budget pricing.